2003•Journal of Guangdong University of TechnologyRequires access

Discussion of Representative Theories of Financial Development and Its Financial Efficiency

Jun Shen

Abstract

There are three representative theories of financial development, that is, theory of financial deepening, theory of financial restraint and theory of financially sustainable development. Different theories have different views of financial efficiency. Compared with the incomplete views of financial efficiency of the former two theories, theory of financially sustainable development carries a new view of financial efficiency. Financial efficiency is the key to the theory of financial development and should be further discussed.

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Key concepts: Financial market efficiency, Financial modeling, Economics, Sustainable development, Finance, Financial intermediary, Geography of finance, Financial analysis